NEWS | Addressing The Changing Marketing Conditions
The past few years have brought significant and ongoing disruption. From the COVID-19 pandemic to global economic uncertainty, businesses have faced constant challenges, from rising inflation, the highest in decades, to persistent supply chain issues. While the pace of change shows no sign of slowing, many are navigating this turbulent environment with resilience, looking ahead for signs of stability and renewed growth.
The economy has been running hot since the reopening of businesses following the COVID-19 pandemic for several reasons: Historically low interest rates, money added to the economy, and too much demand with a lack of supply. The combination of these factors caused the perfect storm and an economic slowdown. With global manufacturing shutdowns hindering the ability to produce goods for consumers demanding them, suppliers have been forced to increase prices to cover the costs. Manufacturers have scaled back production, which is taking longer than anticipated to start back up. The labour pool shortages and increased transportation costs put pressure on prices, leaving companies with slower production and longer lead times. The invasion of Ukraine has taken a toll on business worldwide, making it more challenging to get materials, like MDF particleboard and wood, which are used in the construction of various point-of-sale (POS) displays.
It’s no longer business as usual, and companies have had to adapt to the current economic climate. Service providers have been forced to raise prices and are facing longer turnaround times than ever, while client budgets have decreased, and their expectations have remained the same. When it comes to choosing a partner to execute a strategic POS solution, the question now is: “What company can deliver the same results on a limited budget?”
Forming the right partnerships is key to capitalizing on a stricter budget. Here are some changes to consider when designing a POS solution in the present times:
Save on freight costs by asking Main St. Group for drop-shipping to direct locations
Try a pole topper instead of a structural display
Switch from wood or metal to our “Green” structural corrugated material
Take advantage of the favourable currency by manufacturing in Canada
Plan and start thinking about what your retail marketing campaign will look like 6 months in advance.
Modern times have been rocky with economic slowdowns, high inflation rates, and a lack of supply. Companies of all sizes have had to shift their expectations and find partners willing to deliver the same result within a budget. Our team knows all it takes is a few minor changes to a POS design to help our clients capitalize on their tighter budgets without wavering on results. Main St. Group has a comprehensive vendor base that allows us to leverage our partnerships and overcome these pressing challenges.
